German health-care company Fresenius SE reported higher adjusted profit and revenues in the first quarter compared to the same period of the previous year, excluding Fresenius Medical Care.
German carmaker BMW reported a 26.4% drop in first-quarter net profit to €2.2 billion ($2.5 billion), as weak demand in China weighed on earnings.
ABUJA — The Federal Government has announced plans to gradually eliminate electricity subsidies, citing the unsustainable financial burden on the nation’s economy. Minister of Power Adebayo Adelabu made this known during a strategic meeting with chairmen of Nigeria’s power generation companies (Gencos) held in Abuja. Adelabu warned that the Nigerian economy can no longer sustain…
ABUJA – In a decisive effort to arrest long-standing inefficiencies in Nigeria’s refining operations, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has removed the managing directors of the company’s three major refineries located in Port Harcourt, Kaduna, and Warri. According to Peoples Gazette, the leadership shake-up, which…
LAGOS – Despite an ongoing investigation into a massive N1.2 trillion digital trading fraud that reportedly affected over 600,000 Nigerians, embattled investment platform Crypto Bridge Exchange (CBEX) has resumed operations—reigniting concerns among regulators and financial watchdogs. Two traders told to The PUNCH on Wednesday that the digital trading firm, which abruptly collapsed on April 14,…
